Wall Street analysts expect MGM Growth Properties LLC (NYSE:MGP) to report $0.59 earnings per share for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for MGM Growth Properties’ earnings. The highest EPS estimate is $0.61 and the lowest is $0.57. MGM Growth Properties posted earnings per share of $0.55 in the same quarter last year, which indicates a positive year-over-year growth rate of 7.3%. The business is expected to report its next quarterly earnings report on Tuesday, August 6th.
On average, analysts expect that MGM Growth Properties will report full year earnings of $2.29 per share for the current financial year, with EPS estimates ranging from $2.11 to $2.37. For the next financial year, analysts forecast that the business will report earnings of $2.40 per share, with EPS estimates ranging from $2.19 to $2.49. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side analysts that cover MGM Growth Properties.
MGM Growth Properties (NYSE:MGP) last issued its quarterly earnings results on Tuesday, April 30th. The financial services provider reported $0.24 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.34). MGM Growth Properties had a return on equity of 1.16% and a net margin of 6.73%. The company had revenue of $271.30 million for the quarter, compared to analyst estimates of $283.07 million. During the same period last year, the company posted $0.49 EPS. The business’s revenue for the quarter was up 25.7% on a year-over-year basis.
Shares of MGM Growth Properties stock traded up $0.20 during trading hours on Wednesday, hitting $31.62. The company’s stock had a trading volume of 458,789 shares, compared to its average volume of 829,462. MGM Growth Properties has a 1-year low of $25.50 and a 1-year high of $33.30. The firm has a market capitalization of $2.86 billion, a P/E ratio of 14.18, a PEG ratio of 2.43 and a beta of 0.51. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.79.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 29th were given a $0.465 dividend. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $1.86 annualized dividend and a dividend yield of 5.88%. This is a positive change from MGM Growth Properties’s previous quarterly dividend of $0.45. MGM Growth Properties’s dividend payout ratio is presently 83.41%.
Institutional investors have recently added to or reduced their stakes in the company. Essex Investment Management Co. LLC purchased a new position in shares of MGM Growth Properties in the fourth quarter valued at $26,000. Cresset Asset Management LLC purchased a new position in shares of MGM Growth Properties in the first quarter valued at $34,000. First Hawaiian Bank purchased a new position in shares of MGM Growth Properties in the first quarter valued at $39,000. Cutler Group LP boosted its stake in shares of MGM Growth Properties by 201.8% in the first quarter. Cutler Group LP now owns 1,509 shares of the financial services provider’s stock valued at $48,000 after purchasing an additional 1,009 shares during the period. Finally, Legal & General Group Plc boosted its stake in shares of MGM Growth Properties by 308.7% in the fourth quarter. Legal & General Group Plc now owns 2,076 shares of the financial services provider’s stock valued at $55,000 after purchasing an additional 1,568 shares during the period. 83.23% of the stock is owned by institutional investors.
About MGM Growth Properties
MGM Growth Properties LLC (NYSE:MGP) is one of the leading publicly traded real estate investment trusts engaged in the acquisition, ownership and leasing of large-scale destination entertainment and leisure resorts, whose diverse amenities include casino gaming, hotel, convention, dining, entertainment and retail offerings.
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